7.
Solve the problem.
Tuition of $2600 is due when the spring term begins, in What amount should a student deposit today, at to have enough to pay tuition?
A) $2452.83
B) $111.96
C) $2500.00
D) $2488.04

8.
Find the monthly house payment necessary to amortize the following loan.
In order to purchase a home, a family borrows at 8.8% for What is their monthly payment? Round the answer to the nearest cent.
A) $4023.64
B) $792.00
C) $853.50
D) $1244.22

10.
Find the exact interest. Use 365 days in a year, and use the exact number of days in a month. Round to the nearest cent, if necessary.
A loan of $97,000 at 13% made on Feb 18 and due on June 30
A) $4728.75
B) $4560.33
C) $4663.97
D) $4623.67

11.
Find the periodic payment that will render the sum.
S = $55,000, interest is 4% compounded annually, payments made at the end of each year for
A) $5170.81
B) $4471.66
C) $10,154.50
D) $3304.20

12.
Find the periodic payment that will render the sum.
S = $23,000, interest is 18% compounded monthly, payments made at the end of each month for
A) $486.51
B) $6438.25
C) $612.70
D) $509.80

20.
Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.
$3000 at 8% compounded semiannually for 8 yr
A) $5618.94
B) $1620.81
C) $1601.72
D) $1398.28